Flux is a decentralized cloud computing network on the Flux blockchain, which utilizes Proof-of-work (PoW) consensus mechanism. Within the Flux ecosystem, users are able to operate nodes to mine FLUX tokens rewards, purchase computational resources, and pay for network fees.
FLUX is the native token of the project. The current use cases for FLUX includes:
Proof-of-work mining: Users running Flux nodes can mine for FLUX tokens by participating in the proof-of-work (PoW) consensus mechanism to secure the Flux network.
Node collateral: Users will have to lock FLUX tokens for running Flux nodes, this is done to mitigate any bad actors.
Payment currency: Users can use FLUX tokens to pay for Flux network services (i.e. hosting applications on the Flux network) and cross-chain bridge fees.
Governance: Flux node operators can participate in the governance of Flux. Votes are based on the number of locked FLUX tokens in each operator’s node.
The project consists of the following major components working in conjunction:
FluxNodes: Decentralized computational network nodes that supply dedicated computing power, and generate rewards in Flux for powering the network.
FluxOS: FluxOS is a second-layer operating application that allows users to run on Flux’s fully decentralized computational network. Once deployed, FluxOS ensures all nodes are running properly and communicating throughout the network.
XDAO: Flux governance is managed by a decentralized community that can submit and vote on proposals for the future of Flux.
Fusion: The Fusion app will allow users to swap and bridge FLUX tokens between different chains.
As at December 10th 2021, the maximum and total token supply of FLUX are 440,000,000 and 220,347,380 respectively. The current circulating supply is 221,186,405 (~50.27% of the maximum token supply).
A Decentralized Cloud Computing Network on Flux.
Dec 10th, 2021